12-08-08 Common Council Mintues - Laserfiche WebLink

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REGULAR MEETINGDECEMBER 8, 2008 WHEREAS, the IEDC has reviewed the City’s Application, and has determined that the Application meets the requirements and objectives of the Act; and WHEREAS, the Act further provides that, upon IEDC’s designation of a certified technology park, the IEDC, the South Bend Redevelopment Commission (“Commission”) and the City of South Bend acting by and through its legislative body, the South Bend Common Council (“Council”) may enter into an agreement establishing the terms and conditions governing the certified technology park; and WHEREAS, the Council desires to support and provide for the proper operation and maintenance of the Certified Technology Park described at Exhibit “A” by entering into a Certified Technology Park Agreement with IEDC and the Commission, the form of such Agreement is attached hereto and incorporated herein as Exhibit “B”. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: Section I. The Certified Technology Park Agreement among the Indiana Economic Development Corporation and the South Bend Redevelopment Commission that is attached hereto as Exhibit “B” is hereby approved. Section II. The Mayor, the City Clerk and the Controller, and such other officers of the City as may be necessary and appropriate, are, and each of them is, hereby authorized to take any and all actions and to execute all such instruments as may be necessary or appropriate to accomplish the establishment, operation and maintenance of the Certified Technology Park. Section III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Timothy A. Rouse Member of the Common Council Councilmember Puzzello, Vice Chairperson, Community and Economic Development Committee, reported that this committee met this afternoon and due to the lack of a quorum sends this bill to the full Council with no recommendation. th Mayor Stephen Luecke, 14 Floor County-City Building, 227 W. Jefferson Blvd., South Bend, Indiana, made the presentation for this bill. Mayor Luecke advised that he is asking the Council approval this evening of an agreement with the Indiana Economic Development Commission designating the Certified Tech Park. This is a two-site location, the first two site location in the State of Indiana to receive a certified Tech Park Designation. The northern site is Innovation Park just south of the University of Notre Dame and including the IU School of Medicine. The southern site is of course the area that the City has been clearing south of Sample St. in the old industrial corridor. He stated that he is excited about this opportunity. In some ways it is the end of a lot of hard work, among various partners, but it is also the beginning of a lot of hard work as the City looks to attract new companies, new investment, new jobs to this community. He stated that he appreciates the support and acknowledgement by the Indiana Economic Development Commission of the work that has been done in partnership with the University of Notre Dame, and Project Future helping as well. This designation will do a number of things, one it will provide benefits, potential benefits to companies that locate within the Certified Tech Park areas, two it will allow the City to capture some tax dollars. The bulk of which would otherwise have gone to the state. Up to 5 million dollars over the four year period of this designation can be captured in sales taxes generated within the designated area or employment taxes designated within the area as well. Those dollars will be used for further investment within those two sites to be able to further the activities of the park and to hopefully bring additional investment and jobs to the community. This does require some commitments 13